TG Metals (ASX:TG6) is gearing up for a shallow aircore drilling program targeting extensions of the laterite-hosted gold resource at the Van Uden Gold Project in Western Australia.
The program comprises 689 vertical drill holes totalling approximately 4,150m over 21–28 days, with the ability to expand if needed.
TG Metals aims to increase the current laterite resource of 1 million tonnes @ 0.52 grams per tonne for 17,700 ounces of gold, which has returned 90%-plus recoveries via simple heap leach testing.
The drilling targets an area of confirmed gold mineralisation from auger drilling that covers roughly the same footprint as the existing laterite resource.
CEO David Selfe says the drilling also aims to expand the life of the proposed heap leach operation.
“Combining on-site heap leach processing with off-site ore purchase agreements for the bulk of the defined resource will enable the company to realise the full potential of the Van Uden Gold Project whilst deploying low-capital expenditure development,” Selfe says.
Alongside advancing a definitive ore purchase and share profit agreement, the company is also finalising a Scoping Study to outline the financial metrics on the heap leach opportunity. This is expected to be released shortly.
The Van Uden laterite resource comprises 886,000 tonnes @ 0.56g/t for 15,900 ounces of gold in the indicated category and 167,000 tonnes @ 0.33g/t for 1,800 ounces of gold in the inferred category.
TG Metals has started early-stage discussions for non-dilutive financing solutions to fund potential capex associated with the project.
Assays will be conducted using the photon method, with results feeding into an updated mineral resource estimate for the laterite material.
The company also plans to complete further flora and fauna studies this spring to advance the proposed heap leach project.
TG Metals is focused on developing gold and lithium assets at its wholly owned Lake Johnston Lithium Project and 80%-owned Van Uden Gold Project.
Write to Paula Fabe at Mining.com.au
Images: TG Metals
